{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Cabinet meeting as vote on bank deposits levy is postponed' data-url='/boclips/videos/5c54c006d8eafeecae14795f' data-video-url='/boclips/videos/5c54c006d8eafeecae14795f' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nCabinet meeting as vote on bank deposits levy is postponed\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Various of cabinet ministers arriving at Presidential Palace2. Various of cabinet meeting3. Wide pan of street4. Mid of police5. Barbed wire being laid out 6. Tilt down parliament7. Close of sign8. Police in street9. Various exteriors...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Various of cabinet ministers arriving at Presidential Palace\u003cbr/\u003e2. Various of cabinet meeting\u003cbr/\u003e3. Wide pan of street\u003cbr/\u003e4. Mid of police\u003cbr/\u003e5. Barbed wire being laid out \u003cbr/\u003e6. Tilt down parliament\u003cbr/\u003e7. Close of sign\u003cbr/\u003e8. Police in street\u003cbr/\u003e9. Various exteriors of Alpha bank\u003cbr/\u003e10. Man using ATM (AP Television cannot confirm he is withdrawing money out of fear of levy on bank deposits)\u003cbr/\u003e11. Close of sign\u003cbr/\u003e12. Various exteriors of Bank of Cyprus\u003cbr/\u003e13. People using ATM (AP Television cannot confirm they are withdrawing money out of fear of levy on bank deposits)\u003cbr/\u003eGovernment ministers met in Cyprus on Sunday to discuss the controversial levy on all bank deposits that the EU state's creditors demanded in exchange for 10 billion (13 billion US dollars) in rescue money.\u003cbr/\u003eWhile ministers met at the Presidential Palace in the capital Nicosia, parliament postponed the debate and vote on the levy.\u003cbr/\u003eParliamentary official Antonis Koutalianos said the vote that was scheduled for Sunday afternoon has been pushed back to Monday, but the exact hour of the vote had yet to be fixed.\u003cbr/\u003eThe decision to impose the one-time levy of 6.75 percent on all deposits under 100 thousand euros (130 thousand US dollars) and 9.9 percent over that amount, has triggered scorn from Cypriot politicians who condemned it as unfair, bringing in doubt its approval in parliament.\u003cbr/\u003eBanks have already acted to seal off the amount of the levy so depositors can't access it. \u003cbr/\u003eBank customers can still draw on the rest of their funds via ATM machines this weekend, although no international transfers will be able to go through until Tuesday, since Monday is a holiday. \u003cbr/\u003eThe deal also needs the approval of several eurozone parliaments; it's unclear how fast they can act and what will happen to bank deposits in the meantime.\u003cbr/\u003eIt marks the first time that the 17 eurozone countries and the IMF have dipped into people's savings to finance a bailout.\u003cbr/\u003eCyprus built its economy in recent years by becoming a financial centre, much the way Ireland and Iceland before it did. \u003cbr/\u003eIts banks offered Internet accounts to foreigners, were renowned for their service, provided substantial privacy to clients and had very low taxes. \u003cbr/\u003eIt worked so well that Cyprus' banking industry ballooned to nearly eight times the country's gross domestic product at the height of the boom. \u003cbr/\u003eRussians - looking for warmer climes, lower tax rates and shared culture in the form of Orthodox Christianity - are thought to hold the majority of those accounts, with about 20 billion euros in the island's banks.\u003cbr/\u003eBut Cyprus' banks held a lot of Greek debt and suffered significant losses when they took a writedown of those bonds as part of the Greek bailout. \u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' 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